Circle’s USDC becomes first stablecoin under new EU supervision

Circle’s USDC has become the first stablecoin to receive the European Union’s “significant” e-money token classification under MiCA, bringing the dollar-backed cryptocurrency under direct European Banking Authority supervision beginning November 12, 2026. Summary Circle’s USDC became the first significant e-money token among 45 notified under European Union regulations. November 12 begins joint supervision by the European Banking Authority and France’s financial regulator, ACPR. The EBA will oversee reserve assets, liquidity, capital requirements, recovery procedures, and token redemption plans. France’s ACPR retains responsibility for governance, outsourcing, ownership assessments, management suitability, and potential conflicts of interest. The EBA signed an information sharing agreement with New York regulators covering cross border stablecoin supervision. The European Banking Authority (EBA) announced the decision on October 14 after assessing USDC against the criteria established by the Markets in Crypto-Assets Regulation (MiCA). Of the 45 e-money tokens currently notified under the framework, USDC is the first to receive the designation. The new classification will divide ove...